MORE FREE MONEY!!! This time it's China's turn to wave the stimulus wand with Vice Premier Liu saying Beijing will roll out more measures to boost the Chinese economy as well as (and this is more important) " favorable policy steps for its capital markets ." China had been cracking down on their own Tech Oligarchs sending stocks like BABA, BIDU and DIDI down more than 2/3 but it was beginning to get real and those companies were about to start laying people off – and that is where the Chinese Government had to relent . It's all well and good to be hating on Capitalism – but you have to have something to replace it with. No one seems to have figured that out yet. So the Hang Seng is up 9% this morning and BABA is up a ridiculous 21% pre-market, BIDU up 15% and DIDI up 45% – how insane is that? Investors also took comfort from Ukrainian President Volodymyr Zelenskiy's comments on Wednesday that peace talks with Russia were sounding more realistic. So everything is awesome again this morning and the S&P is running right back to test resistance at 4,320, where it wil fail because the Death Cross just happened and this news doesn't actually change the fact that China is in lockdown and Russia is at war and the Fed is tightening anyway due to out-of-control Inflation and the Supply Chains are still F'd and the planet is daying. Happy Wednesday! Ignoring World events, it's actually good news to see us bounce off the weak bounce line on /ES and go right back to the strong bounce line but it's only REALLY good news if we get back over it and hold it and that's unlikely with the downward pressure from the Death Cross but that Powell is a silver-tounged devil – and he's been excellent in the past at telling the markets what they want to hear so it ain't over 'till the Fed lady sings this afternoon, at 2:30 and we will be covering it during our Live Trading Webinar, which begins at 1pm, EST. – YOU CAN JOIN US HERE . We got throuogh our Future is Now portfolio review during our Live Member Chat ( you can …
MORE FREE MONEY!!!
This time it's China's turn to wave the stimulus wand with Vice Premier Liu saying Beijing will roll out more measures to boost the Chinese economy as well as (and this is more important) "favorable policy steps for its capital markets." China had been cracking down on their own Tech Oligarchs sending stocks like BABA, BIDU and DIDI down more than 2/3 but it was beginning to get real and those companies were about to start laying people off – and that is where the Chinese Government had to relent.
It's all well and good to be hating on Capitalism – but you have to have something to replace it with. No one seems to have figured that out yet. So the Hang Seng is up 9% this morning and BABA is up a ridiculous 21% pre-market, BIDU up 15% and DIDI up 45% – how insane is that? Investors also took comfort from Ukrainian President Volodymyr Zelenskiy's comments on Wednesday that peace talks with Russia were sounding more realistic.
So everything is awesome again this morning and the S&P is running right back to test resistance at 4,320, where it wil fail because the Death Cross just happened and this news doesn't actually change the fact that China is in lockdown and Russia is at war and the Fed is tightening anyway due to out-of-control Inflation and the Supply Chains are still F'd and the planet is daying. Happy Wednesday!
Ignoring World events, it's actually good news to see us bounce off the weak bounce line on /ES and go right back to the strong bounce line but it's only REALLY good news if we get back over it and hold it and that's unlikely with the downward pressure from the Death Cross but that Powell is a silver-tounged devil – and he's been excellent in the past at telling the markets what they want to hear so it ain't over 'till the Fed lady sings this afternoon, at 2:30 and we will be covering it during our Live Trading Webinar, which begins at 1pm, EST. – YOU CAN JOIN US HERE.
We got throuogh our Future is Now portfolio review during our Live Member Chat (you can…
